अApnaFunda

POPULAR VEHICLES AND SERV LTD (PVSL)

Retail Trade · Specialty Stores · figures to Nov '26

Quality scoreHow the business itself ranks against its sector peers on profitability, 3-year growth and leverage. 50 is the middle of the sector.12 / 100
Profitability 21Balance sheet 4
Momentum scoreHow strong the recent trend is: 3-month price change, 12-month improvement in earnings and the rise in FII + DII holding, among companies above ₹500 cr.34 / 100
Price 33Earnings 48FII/DII 22

Share price

Closing priceAdjusted for splits and bonus issues.

₹96.18 latest close · +3.0% over the last 90 sessions

₹90₹100₹110₹120Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹90₹100₹110₹120Jul 3Sep 4Nov 9

₹96.18 month-end · −28.4% over 12 months

₹100₹120Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹100₹120Nov '25May '26Nov '26

₹96.18 month-end · −61.5% since Mar '24

₹100₹150₹200₹250Mar '24Sep '24Apr '25Oct '25May '26Nov '26 ₹100₹150₹200₹250Mar '24Jul '25Nov '26

52-week range ₹82.41 to ₹158.00 · 1-year volatility 43.8%

How rough has the ride been?

Maximum drawdown-70.7%not yet recovered
1-year volatility43.8%annualised
Beta vs sector index0.723-year daily, correlation 0.35
Volume spikes3last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%−60%20252026−70.5% 0%−20%−40%−60%20252026−70.5%
Largest drawdowns

-70.7% (2024-03 peak to 2026-02 low, not yet recovered)

Most recent volume spikes

2026-08-12: 21.5x the 50-day median, price +8.4% that day

2026-07-20: 26.3x the 50-day median, price +8.9% that day

2026-07-15: 7.6x the 50-day median, price +5.1% that day

Beta is the slope of daily returns against a market-cap-weighted index of the sector's other listed companies, built from today's constituents (so it excludes companies no longer listed).

Where does it rank among Retail Trade peers?

Each cell is the company's percentile rank among its Retail Trade peers (non-financial companies) that month.
Darker is better-ranked.
Rows marked ↓ are inverted (lower debt, shorter cash cycle and a lower P/E rank higher).

Where it ranks today

  • ROCE21stflat vs a year ago
  • Op. margin21st▲ 6 pts vs a year ago
  • Revenue growth69th▲ 54 pts vs a year ago
  • EPS growth3rd▼ 16 pts vs a year ago
  • Debt/equity ↓3rd▼ 12 pts vs a year ago
  • Cash cycle ↓72ndflat vs a year ago
  • P/E ↓51st▼ 24 pts vs a year ago
  • 12M momentum32nd▼ 39 pts vs a year ago

Rank history

ROCE
Op. margin
Revenue growth
EPS growth
Debt/equity ↓
Cash cycle ↓
P/E ↓
12M momentum
Dec '21Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Jul '26Nov '26
Lower rank Higher rank Not enough data

Percentiles use today's listed companies in the sector and need at least 5 peers with a value; grey cells have too few.
ROE is computed from net profit and book value where the source does not report it.

The Retail Trade sector page Watch it move against Retail Trade in the Observatory

What is the price implying?

Trailing earnings per share are negative, so a P/E-based figure does not exist. See the loss-makers list on the Expectations Gap page for a revenue-based version.

“Implied growth” is what the current price would require under our stated assumptions, not what we expect.

What prices imply across Retail Trade The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹96.18
ROCE
4.0%
Market Cap
₹685 cr
Revenue (TTM)
₹6960 cr
P/S
0.1x
P/B
1.1x
ROE
-0.4%
Operating Margin
3.1%
Debt / Equity
2.2x
Promoter Holding
61.4%
12M Momentum
-28.4%

52-week range

₹82.41₹158.00
18% of the way from its 52-week low to its high

Price risk

1Y volatility
43.8%
Beta vs sector
1-year daily
0.91

Balance sheet & cash

Interest cover
operating profit ÷ interest
1.0x
Cash from profit, 3Y
operating cash flow ÷ net profit
5.00x
Share count, 1Y
unchanged

Are profits backed by cash?

5 of 5checks within rangeAll clear
Other income reliance—Not enough data

Not enough reported data to compute this.

Tax rate—Not enough data

Not enough reported data to compute this.

Cash conversion6.13xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 6.13x (cash from operations ₹331 cr, net profit ₹54 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow5 of 5 yrsWithin range

Fiscal years with positive free cash flow in the last 5: 5. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history-2 daysWithin range

Debtor days are below the median of the previous three fiscal years by 2 days (15 vs 17). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress3% of fixed assetsWithin range

Capital work-in-progress is 3% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days-5 days / 2 yrsWithin range

Days payable changed by -5 over two years. Bands: rise of up to 30 days; more than 30 days.

Tap a check to see how it is measured

How to read this

Each check is a named rule with fixed thresholds, not a score. Annual statements are the latest restated figures, so a past year may differ from what was originally reported.

All terms explained in the glossary →

Who has been buying and selling?

  • Over 2 years, FIIs added 3.3 pts.
  • The number of shareholders fell from 93,690 to 56,810 (-39%) between Mar 2024 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupMar '24Jun '26Change
Promoters61.2%61.4%+0.2 pts
FIIs7.0%10.3%+3.3 pts
DIIs10.3%9.8%-0.4 pts
Public and others21.5%18.5%-3.1 pts

Number of shareholders

56,810shareholders-39% since Mar '24
57k69k81k94k Mar '24Sep '24Mar '25Sep '25Mar '26Jun '26
Mar '24: 93,690
Jun '24: 72,611
Sep '24: 67,273
Dec '24: 68,160
Mar '25: 66,109
Jun '25: 64,486
Sep '25: 62,434
Dec '25: 59,734
Mar '26: 57,769
Jun '26: 56,810
57k69k81k94k Mar '24Dec '24Sep '25Jun '26
Mar '24: 93,690
Jun '24: 72,611
Sep '24: 67,273
Dec '24: 68,160
Mar '25: 66,109
Jun '25: 64,486
Sep '25: 62,434
Dec '25: 59,734
Mar '26: 57,769
Jun '26: 56,810

Quarterly shareholding as reported, labelled by the quarter it covers (it becomes visible about two months later).
Shareholder counts are only available for recent quarters.

This quarter's smart-money board

What happened next to similar setups

+12.5%typical 12-month return vs the marketAbove the base rate
  • We found 50 past situations where a non-financial company looked like POPULAR VEHICLES AND SERV LTD today on valuation, return on capital, margins, debt, growth, price momentum, size and volatility.
  • Over the following 12 months the middle half of them returned −9% to +65% vs the market, against −5% for all non-financial companies in the same months.
  • The analogs' median sat above that base rate (gap +17.3%, 80% range +6.2% to +29.9%), but the matches cluster in only 6 distinct 12-month windows.

Where the 50 outcomes landed

−50%0%+50%+100%
VISHWARAJ · Apr 2024: −47.3% vs market
MMTC · Apr 2022: −36.5% vs market
ZUARI · May 2020: −32.3% vs market
SPENCERS · Mar 2022: −32.1% vs market
NAHARSPING · Dec 2024: −30.9% vs market
CHENNPETRO · Feb 2020: −27.4% vs market
DCMNVL · Nov 2024: −27.2% vs market
HCL-INSYS · Apr 2020: −17.6% vs market
MCLEODRUSS · Apr 2022: −16.6% vs market
SUTLEJTEX · Jul 2025: −14.3% vs market
MAHLOG · Dec 2024: −13.5% vs market
NETWORK18 · Sep 2023: −11.6% vs market
MARALOVER · Aug 2025: −10.2% vs market
BAJAJHIND · Feb 2020: −4.2% vs market
SALSTEEL · Mar 2020: −4.2% vs market
RSWM · Feb 2025: −4.1% vs market
TVSSCS · Aug 2025: −3.7% vs market
ARCHIDPLY · Aug 2025: −1.4% vs market
JAYSREETEA · May 2024: +2.5% vs market
RENUKA · Mar 2025: +2.5% vs market
OMAXAUTO · Feb 2022: +2.7% vs market
UCAL · Aug 2025: +2.7% vs market
BIL · Mar 2023: +3.2% vs market
JAIBALAJI · Mar 2022: +9.5% vs market
RPSGVENT · Jun 2023: +11.5% vs market
GILLANDERS · Feb 2020: +13.4% vs market
COASTCORP · Mar 2025: +19.0% vs market
DAMODARIND · Nov 2020: +20.6% vs market
SUPERSPIN · Jun 2021: +22.0% vs market
JINDALPOLY · Oct 2025: +25.2% vs market
NFL · Sep 2022: +31.6% vs market
RANEHOLDIN · Sep 2021: +31.7% vs market
INDORAMA · Sep 2024: +31.8% vs market
JISLJALEQS · Jun 2021: +41.6% vs market
NAHARINDUS · Feb 2020: +42.5% vs market
INDSWFTLAB · Oct 2022: +46.2% vs market
DBOL · Oct 2025: +57.1% vs market
GINNIFILA · Feb 2020: +67.6% vs market
RML · May 2022: +77.9% vs market
MUKANDLTD · Feb 2020: +80.6% vs market
KANPRPLA · Sep 2024: +85.0% vs market
RICOAUTO · Jan 2022: +106.8% vs market
MSPL · Jun 2023: +109.1% vs market
GMRP&UI · May 2023: +172.4% vs market
SPMLINFRA · May 2023: +175.6% vs market
RPOWER · Dec 2020: +196.3% vs market
GLOBALVECT · Sep 2023: +198.5% vs market
MAWANASUG · Mar 2021: +200.9% vs market
SETCO · Mar 2024: +220.3% vs market
NDL · Dec 2020: +228.4% vs market
Similar setups +12.5%All companies −4.8%← worse than the marketbetter than the market →

Each dot is one past situation (hover or tap for details) · Solid dots are the closest matches, listed below · Shaded is the middle half of all companies in the same months · 9 beyond the range shown, drawn at the edge

Similar setups' median
+12.5%
All companies' median
−4.8%
Beat the market
64% vs 45%

50 past situations · 50 companies · 31 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
BAJAJHIND
Process Industries
Feb 2020 —2% −38%−47% −4%
RSWM
Process Industries
Feb 2025 —0% −32%−50% −4%
JAIBALAJI
Non-Energy Minerals
Mar 2022 —1% +19%−36% +10%
NFL
Process Industries
Sep 2022 —2% −20%−25% +32%
ZUARI
Process Industries
May 2020 —5% −52%−53% −32%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
MARALOVER
Process Industries
Aug 2025 —2% −28%−38% −10%
DCMNVL
Process Industries
Nov 2024 —3% −5%−33% −27%
NAHARSPING
Process Industries
Dec 2024 —1% −6%−29% −31%
How reliable is this?

Matched on P/S, ROCE, operating margin, debt/equity, interest cover, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: interest cover, 12-month momentum and ROCE. Not used (unavailable for this company): P/E. This company is loss-making, so it was only compared with loss-making companies. One match per company and at most 7 from any one month.

Independent periods: the matches fall in 6 distinct 12-month windows. Matches from nearby months share the same market conditions, so fewer windows means less evidence.

How this is built

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to POPULAR VEHICLES AND SERV LTD. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

Methodology

How historical analogs are built

Data as of 2026-11-09. Outcome pool: Jan 2020 to Oct 2025.

For every company we look at the situation it is in today (valuation, return on capital, margins, debt, growth, 12-month price momentum, drawdown, size and volatility) and find past company-months that looked most like it. We then show what happened to those past situations over the following 12 months, measured against the ApnaFunda All index and against the base rate. It describes history. It does not predict anything.

What is compared

FeatureWeightNon-financialFinancial
P/E1yesyes
P/S1yes—
P/B1—yes
ROCE1yes—
operating margin1yes—
ROE1—yes
debt/equity0.75yes—
interest cover0.5yes—
revenue growth0.75yesyes
12-month momentum1yesyes
drawdown from 12-month high0.75yesyes
size0.75yesyes
volatility0.5yesyes

Weights were set by judgement before any outcome was looked at and are never tuned on results. Loss-making companies (negative P/E or net profit) are only matched with other loss-making companies. Banks, NBFCs and insurers are compared only with each other and use a different feature set. Every feature is converted, month by month, to its rank among companies in the same pool in that month, so a P/E of 30 in a hot market and a P/E of 22 in a cold one can match if both were equally expensive for their time. Only that month's data is used.

How closeness and the sample are defined

Distance is the weighted root-mean-square gap between the standardised features both companies have. A match needs at least 70% of the query's feature weight, a distance of at most 0.9, and 30 matches at minimum to be shown. We keep up to 50 matches with these exclusions: never the company itself, one match per company (its closest month), and at most 7 from any one calendar month so a single market episode cannot dominate.

Base rate

The base rate is the distribution of 12-month returns, relative to the market, of every eligible company-month in the same pool, with each month weighted to match the months the analogs came from. It answers: how did a random company do in these same months? Because matches from nearby months share the same market conditions, we also report the number of distinct 12-month windows behind a result, and a bootstrap that resamples months decides whether the analog median differs from the base rate at all. "Not meaningfully different" is the usual outcome and the page copy is written for it.

Limits you should know

  • One market period. The outcome pool covers 2020–2025 only (70 months), including the 2020 crash and the 2020–21 rally.
  • Survivorship. Only companies listed today are included. Delisted and bankrupt companies are missing, which flatters past outcomes, particularly for distressed-looking setups.
  • Price return only. Dividends are excluded, and the benchmark is an ApnaFunda market-cap-weighted index of the same listed companies, not an official index.
  • Reporting lag. Fundamentals are matched on an assumed 60-day lag after the quarter end, not on real announcement dates.
  • Pools: non-financial: 98,395 company-months from 2019 companies; financial: 5,659 company-months from 108 companies. 2349 companies currently have a result; the rest are suppressed because too few comparable situations exist.

Does it work? A walk-forward check

The walk-forward check has not been run for this build, so skill is shown as not yet measured.

Disclaimer

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to any company shown. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

What else looks like this?

Companies with the most similar financial profile today, regardless of industry.

RSWMRSWM
Process Industries
69%similar
debt/equityROCE
Process Industries
66%similar
market capoperating margin
Process Industries
56%similar
promoter holdingoperating margin
Process Industries
53%similar
volatilityoperating margin
Process Industries
49%similar
operating marginROCE
Retail Trade
49%similar
debt/equityvolatility
Retail Trade
29%similar
revenueoperating margin
Retail Trade
27%similar
revenuedebt/equity

Similarity is statistical, based on reported metrics; it does not imply similar business quality or future returns.

What changed?

21 events since Jun '24

  1. JulPriceVolume reached 26.3x its 50-day median on 2026-07-20; price +8.9% that day.
  2. AprPriceVolume reached 9.3x its 50-day median on 2026-04-20; price +3.4% that day.
  3. MarResultsRevenue (TTM) reached a new high of ₹5,999 cr.
  4. MarPriceVolume reached 8.1x its 50-day median on 2026-03-25; price +11.2% that day.
  5. FebPriceFell 71% from the Mar 2024 peak to the Feb 2026 low.
  6. OctPriceVolume reached 27.8x its 50-day median on 2025-10-16; price +4.5% that day.
  7. SepPriceVolume reached 10.3x its 50-day median on 2025-09-23; price +6.8% that day.
  8. JunResultsEPS (TTM) turned negative.
Show 13 earlier events
  1. JunInstitutionsFII + DII holding fell 3.1 pts over 2 quarters to 24.4%.
  2. JunPeer rankSlipped to the bottom quartile of Retail Trade on ROCE (from the 2nd quartile).
  3. JunDividendDividend payout cut from 5% to 0% of profit.
  4. AprPriceVolume reached 7.6x its 50-day median on 2025-04-21; price -1.6% that day.
  5. MarSharesShare count is up 7.7% over 12 months.
  6. MarPriceVolume reached 11.1x its 50-day median on 2025-03-27; price -2.2% that day.
  7. DecPriceVolume reached 10.8x its 50-day median on 2024-12-05; price +0.8% that day.
  8. SepInstitutionsFII + DII holding rose 10.9 pts over 1 quarter to 28.1%.
  9. SepPeer rankSlipped to the bottom quartile of Retail Trade on operating margin (from the 3rd quartile).
  10. SepPriceVolume reached 8.0x its 50-day median on 2024-09-18; price +2.0% that day.
  11. JunPeer rankMoved into the 2nd quartile of Retail Trade on ROCE (from the 3rd quartile).
  12. JunDividendStarted paying a dividend (payout 5% of profit).
  13. JunPriceVolume reached 6.7x its 50-day median on 2024-06-14; price +10.6% that day.

Events are generated from the data by fixed rules.
The month shown is when the change became visible in the reported figures, assuming a 60-day lag after each quarter end; it is not an announcement date.

Where price and fundamentals disagree, market-wide Rewind the whole market to any month

Monthly history33 months · 2024-03 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-11—₹6960 cr-0.4%4.0%2.2x
2026-10—₹6960 cr-0.4%4.0%2.2x
2026-09—₹6960 cr-0.4%4.0%2.2x
2026-08—₹6381 cr-2.1%4.0%2.2x
2026-07—₹6381 cr-2.1%4.0%2.2x
2026-06—₹6381 cr-2.1%4.0%2.2x
2026-05—₹5999 cr-3.5%5.0%1.4x
2026-04—₹5999 cr-3.5%5.0%1.4x
2026-03—₹5999 cr-3.5%5.0%1.4x
2026-02—₹5578 cr-5.1%5.0%1.4x
2026-01—₹5578 cr-5.1%5.0%1.4x
2025-12—₹5578 cr-5.1%5.0%1.4x
2025-11—₹5561 cr-4.0%5.0%1.4x
2025-10—₹5561 cr-4.0%5.0%1.4x
2025-09—₹5561 cr-4.0%5.0%1.4x
2025-08—₹5541 cr-1.7%5.0%1.4x
2025-07—₹5541 cr-1.7%5.0%1.4x
2025-06—₹5541 cr-1.7%5.0%1.4x
2025-0538.6x₹5533 cr3.7%14.0%1.4x
2025-0431.2x₹5533 cr3.7%14.0%1.4x
2025-0329.5x₹5533 cr3.7%14.0%1.4x
2025-0215.5x₹5585 cr7.8%14.0%1.4x
2025-0120.3x₹5585 cr7.8%14.0%1.4x
2024-1221.5x₹5585 cr7.8%14.0%1.4x
2024-1114.0x₹5701 cr11.7%14.0%1.4x
2024-1015.3x₹5701 cr11.7%14.0%1.4x
2024-0919.2x₹5701 cr11.7%14.0%1.4x
2024-0817.9x₹5714 cr13.1%14.0%1.4x
2024-0718.8x₹5714 cr13.1%14.0%1.4x
2024-0618.7x₹5714 cr13.1%14.0%1.4x
2024-0521.7x₹4875 cr19.4%13.0%2.7x
2024-0422.7x₹4875 cr19.4%13.0%2.7x
2024-0324.4x₹4875 cr19.4%13.0%2.7x

Methodology and data notes

Methodology

Methodology and data notes

All figures come from public exchange prices and screener.in financial statements. Quarterly and annual results are shown from 60 days after the period end, so a month never uses a result before it would plausibly have been published. Statements are the latest versions, which may include later restatements.

Sector medians, percentiles and indices use today's listed companies in the sector (survivorship bias). Prices are adjusted for splits and bonus issues; around a corporate action the fundamentals may lag the price by up to a month, and affected sections are hidden.

The return decomposition uses price = P/E × net profit ÷ share count. The reverse DCF uses a fixed 12% cost of equity, a 10-year horizon and a 15x terminal P/E, and is an illustration only. Events, flags and twins follow fixed rules and thresholds described next to each section.

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